Humber/Ontario Real Estate Course 1 Exam Practice

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What is the main function of the Real Estate Council of Ontario (RECO)?

  1. Set property tax rates

  2. Regulate real estate professionals

  3. Conduct appraisals

  4. Provide mortgage lending

The correct answer is: Regulate real estate professionals

The main function of the Real Estate Council of Ontario (RECO) is to regulate real estate professionals. RECO is responsible for ensuring that real estate professionals in Ontario comply with the Real Estate and Business Brokers Act, 2002 (REBBA 2002) and its Code of Ethics. This includes licensing and regulating real estate agents and brokers, handling complaints and disciplinary actions, and protecting consumers by enforcing real estate laws and regulations in the province of Ontario.

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